RBC drops home mortgage rate6 F+ o2 L1 _# R# \! W# s' l
Sep. 5, 2006. 12:45 PM & K2 [1 m9 |5 T9 A" p4 [CANADIAN PRESS: X4 `+ q8 m; L; n9 b/ Q
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point. x# x+ }3 L1 `7 A5 U/ N & `3 x" S# h+ V# x3 z h) jCanada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday. 4 E" c- i$ }) ]' s5 i& @/ s) f: @0 G* ]6 |% u2 |
At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent./ G1 Q/ ~' m+ Z/ ^ q
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans.
Well, the rate is published rate, it just shows a trent! The rate you gave is discount rate., e' F8 C J; F% ^( G
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[ 本帖最后由 屯民 于 2006-9-5 20:31 编辑 ]
Mortgage rate went down is neutral for investors but good news for others. People can afford to buy larger houses or more people can buy houses, but there is a negtive side, the house price will go up too.
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发表于 2006-9-5 20:18
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